A Short Overview of Kucoin Digital Currencies Exchange in 2020
Kucoin is a cryptocurrency exchange, launched in 2017. The Kucoin crypto exchange was established in 2017 through ICO. The Kucoin itself is a native token of the crypto trading platform. Like Coinbase, Binance, Huobi Global, and BitForex, the Kucoin exchange also offers a wide range of cryptocurrencies pairs to trade. Currently, the platform provides more than 180 cryptocurrencies than can be traded over the Kucoin trading platform. On Sept 26, 2020, the exchange faced the most infamous cyber-attack losing $281 million to the hackers while the platform successfully recovered $204 million and also identified the involved ones.
Fundamental Trading Pairs
The digital coins can be traded against various well-known cryptocurrencies like Bitcoin (BTC), Ether (ETH), NEO, Kucoin (KCS), and Tether (USDT). Currently, the exchange provides support for fiat currency exchange into digital currencies.
Kucoin Charges
The crypto trading platform charges very reasonable trading fees of 0.1% and offers a special discount for their traders that holds KCS tokens. The Kucoin platform withdrawal fee changes and depending on the number of transactions.
Crypto traders can set up two-factor authentication an additional level of security.
Key features of the Kucoin crypto platform
Buying Crypto:
The Kucoin platform provides the opportunity to buy the cryptocurrencies via three different means e.g., P2P trading desk, Bank credit cards, and a newly introduced feature called “Fast Buy”. The ‘Fast Buy’ options support fiat currency exchange into crypto-assets.
Trading Facilities:
The Kucoin platform provides the possibilities to three different ways cryptocurrencies trading including spot trading, margin trading, and instant exchange. Currently, Kucoin offers a 10x profit on margin trading.
Earnings:
The Kucoin platform offers various means to earn cryptocurrencies including Lend, Pool-x, Soft staking, KuCoins holding, and referrals program.
Mobile Applications:
The Kucoin exchange has developed its mobile application for android and IOS so that the users can follow their crypto-assets in real-time.
KYC Verification:
The Kucoin platform has officially announced KYC implementation and verification necessary by November 1, 2018.
News and Announcements:
The exchange offers the facility to keep update its users regarding various necessary information through the News and Announcements section.
Customer Support Center:
The platform has established, beginner tutorial guide, an effective and efficient customer support help desk, and a list of FAQs.
FAQs about Kucoin
Some of the frequently asked questions about Kucoin are,
How to Delete a KuCoin Account?
Currently, the exchange does not offer the opportunity that the users can delete their Kucoin account. The KuCoin maintains all its users’ data safe and secure.
What is the Kucoin exchange?
Kucoin is a world-leading cryptocurrency platform for many crypto-assets and established in September 2017, and has approximately 5 million registered users from over 200 countries around the globe. (Apr 23, 2020)
Where is Kucoin Exchange located?
Kucoin exchange is located in Hong Kong, established by experienced blockchain professionals.
Can US citizens trade on KuCoin?
Many traders use it to trade a variety of altcoins most often not listed on other crypto exchanges. Since crypto trading is subject to tax in many nations, including the United States, of America, Users will most likely be required to report trading activities performed on KuCoin.
Is Kucoin a good exchange?
Kucoin is a trusted and very famous cryptocurrencies exchange that has successfully completed ICO, which signifies its trust transparency.
Is Kucoin safe?
The platform provides many hundreds of cryptocurrency trading pairs and two-factor authentication (2FA) is necessary for all sorts of crypto trades. The platform was considered one of the safest and secure crypto exchanges until the famous historical hack of Sept 26, 2020. However, the platform regained its reputation by identifying the culprits and recovering $204 million out of the $281 million hacks.
Is Kucoin a KYC?
To remain as to be one of the most trustworthy, secure, and rules compliance exchanges, the KuCoin has officially announced KYC implementation on November 1, 2018. (Apr 18, 2020)
